The bonds are rated AAA by CRISIL, and the issue will close for subscription next week. Earlier this month, the company raised an aggregate of 1.75 billion rupees via reissuance of 7.8779% May 2025 bonds and zero-coupon bonds maturing in October 2025. ($1 = 82.6450 Indian rupees) (Reporting by Dharamraj Dhutia Editing by Eileen Soreng)
MUMBAI, Feb 24 (Reuters) - India's Kotak Mahindra Prime
plans to raise funds through bonds maturing in five years and
via the reissue of zero-coupon bonds maturing in October 2025,
three merchant bankers said on Friday.
The non-banking finance company aims to raise at least 1.50
billion rupees ($18.15 million) via five-year bonds and at least
250 million rupees via reissue, they said.
The company has invited bids from bankers and investors on
Monday, and the issues have a greenshoe option to retain 3.50
billion rupees and 1.25 billion rupees, respectively.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.